Molybdenum Oxide Demand Buoyed by Steelmaking Sector
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- Category: Molybdenum's News
- Published on 03 July 2013
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It is reported that steel demand from the automotive sector has prompted at least two Japanese steelmakers to exercise their options to increase contract volumes of molybdenum oxide for the third quarter of 2013.
“Japanese steelmakers typically have annual term contracts for moly oxide running from April-March, with a minimum requirement to lift one cargo each month, and an option to take delivery of another two to four parcels each quarter. Each cargo comprises 20 mt of moly oxide.
‘If my customers need more molybdenum oxide [for Q3], they will have to buy from the spot market as they have reached their limit [on the term contract],’ said one Tokyo-based trader.
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